Tag Archives: startup

When is Selling a Business a Good Idea?

Selling a business doesn’t have to mean that it’s not operating successfully. Sometimes, the best time to sell a small business is precisely when it’s doing well. Doing so can lead to bigger and better opportunities. Here are some factors to consider when deciding whether to sell your company. How to Know Selling a Business is the Right Choice Value of business – Running a business is a risky proposition. Roughly 90 percent of start-ups raise under $20 million and last less than two years before they go under. Realistically, the longer you follow the dream you started with for your company, the riskier it gets. By knowing that the value of your company will eventually peak, however, you will have an edge in knowing when to sell. Potential buyers – You can’t sell your company if no one is willing to buy it. To determine if larger companies are…
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4 Legal Tips for Starting Your Own Freelance Business

One of the greatest obstacles you may face when starting your own freelance business is the amount of legal verbiage you must sift through to ensure you meet all rules and regulations. However, they are a necessary part of starting a business. You shouldn’t let them prevent you from pursuing a meaningful enterprise. Tips for Starting Your Own Freelance Business Know which permits and licenses you need – Even if you plan to run your business out of your home, there’s a good chance your state requires a permit for that (The Home Occupancy Permit). If your state doesn’t require one, it may still be worth getting. Most people prefer to work with a company that is licensed. A permit makes your freelance business precisely that. Register and calculate your taxes – In lieu of an employer, you will have sole responsibility for paying your taxes. Register with a certified…
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Should You Be Offering Equity to Employees at Your Startup?

Startup companies often have to do their very best to avoid taking on debt or giving up too much cash. One of the most costly parts of any business is the employees. You may be entertaining the idea of offering equity to employees at your startup. Let’s take a look at the pros and cons. Benefits of Offering Stock Options at a Startup Since you’ll undoubtedly be looking to lower costs at your new business, cutting employee salaries is often a very effective way to do that. However, offering lower salary will probably mean you get lower quality work. Low quality work is not acceptable at any successful business, but especially not at a startup. Offering equity to employees at your startup is a great way to attract quality employees. It’s also perfect for getting them invested in the success of your business early on. Think about it, offering equity…
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Need Some Start-Up Human Resources Advice?

Richard Branson, one of the most successful and recognizable entrepreneurs of our time, has said that “Clients do not come first. Employees come first. If you take care of your employees, they will take care of the clients.” Traditionally, larger companies have a human resources department to handle a variety of employee issues including hiring, training, timing, evaluation, and team-building, but these days, new small businesses are handing things a bit differently. Start-ups have the benefit of flexibility which affords new business owners the ability to create a system that works for them. Here are some tips from a variety of entrepreneurs who successfully broke the mold with start-up human resources. Hiring – Entrepreneurs almost unanimously agree that the best way to make new hires is through referrals and intern programs. Rather than posting an ad in the classified, talk to current employees about recruiting their friends that could be…
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007 Ways to Run a New Business Like James Bond

Whether this is your first mission, or one of a hundred, every new business owner will tell you that it is hard work. There are some out there that have mastered the art of entrepreneurship. We’ve squeezed those agents for information and turned it into a target list of seven ways to run a new business like James Bond runs up a bar tab for shaken martinis. For Your Eyes Only – Recognize unique opportunities. Try to find new opportunities to better your business. Don’t let chances slip through your fingers and you may have an edge on the competition. The Man with the Golden Gun – Be creative. Think of ways to make things easier for you and your business. Think outside of the box and you may come up with unconventional but effective strategies that make you stand out. The Living Daylights – Get comfortable with risk. Don’t…
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